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9 Ways to Buy Bitcoins for USD. All Methods of Purchase in the USA

We explain where to buy cryptocurrency for fiat money quickly and inexpensively. Read the article for more detail and examples.

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Cryptoassetsrank.com Published on Aug 03, 2018

We explain where to buy cryptocurrency for fiat money quickly and inexpensively. Read the article for more detail and examples.

Online exchange sites

At the online exchange sites you can buy bitcoins for dollars without registration and verification. You can select an exchange site with the best conditions at Bestchange.com or in the list of partners of payment services Advcash, Perfect Money and Epay.

Buy
Some
Bitcoins

Btc
Bit

PayBis

Alfa
Cashier

Inda
Coin

Smart-Pays

Minimum amount, USD

No

50

100

57

No

50

Cash

No

Yes

No

No

No

Yes

Visa/ Master Card

Yes

Yes

Yes

Yes

Yes

Yes

Currency

USD, EUR

USD, EUR

USD, EUR

USD, EUR

USD, EUR

USD, EUR

Advantages:

50+ payment services;

speed of purchase — 5–10 minutes;

VPN can be used;

no verification;

simple interface.

Disadvantages:

weak protection from DDOS attacks, hacking, theft of personal data;

a lot of phishing websites;

the rate is 1–5% higher than the market rate;

fees — 5–10%.

Cryptocurrency exchanges

These are cryptocurrency trading sites, at which you can buy bitcoins with credit or debit card, a wire transfer and digital payment services. There are high safety standards and average market prices at the cryptocurrency exchanges, that is why they are popular among investors.

7 largest cryptocurrency exchanges

24h Volume

Fee

Fiat money

Verification

Currency pairs

Bitfinex

$1,126,631,307

0.1–0.2%

Yes

Yes

143

Binance

$935,252,898

0.20%

Yes

No

240

Huobi

$328,197,292

0.2%

Yes

Yes

146

HitBTC

$232,910,976

0.01–0.1

Yes

Yes

317

Coinbase GDAX

$208,796,212

0.1–0.25%

Yes

Yes

12

Bitstamp

$148,147,833

0.1–0.25%

Yes

Yes

11

Quoine

$125,981,208

0–0.25%

Yes

Yes

27

The fee in the table refers to cryptocurrency and token sale/purchase operations. The fee for depositing/withdrawing fiat money at such sites depends on individual agreements with payment services. There can be a lot of them — over 50. The most popular payment services in the USA are Visa/MasterCard, PayPall, Advcash, Perfect Money, Payoneer and Epay.

Advantages:

safer than other methods;

fee for depositing/withdrawing fiat money — 2–5%;

use blockchain for personal data protection;

VPN can be used.

Disadvantages:

registration is required;

complex interface;

verification is required;

fee — 5–10%.

Person to Person sites

These websites bring together private buyers and sellers of bitcoins, providing them with a platform for negotiating deals. When someone wants to buy or sell bitcoins, he or she creates an order at the site and waits for a counterparty. If you buy or sell cryptocurrency with credit card, the deal is done at the P2P site. If cash is used, the parties arrange a face-to-face meeting.

Local
Bitcoins

Bit
quick

Paxful

Xcoins

Cointal

Bitkan

Entry currency

Any fiat money

USD,
EUR

Any fiat money

USD

USD

USD,
EUR

Min. deposit

None

None

$1

$10

$10

$1

Purchase method

Any

Cards, bank payments, cash

Any

Any

Cards, bank payments

Cards, bank payments, cash

Advantages

fee — 0.2–1%;

negotiated exchange rate;

simple interface;

VPN can be used;

no verification.

Disadvantages

purchase lasts 30–60 minutes;

there might be no sellers in the required region;

a lot of scammers because it is easy to get a false positive rating at P2P sites.

Digital payment services

Digital money services with counterparts of national currencies also sell bitcoins. The sale can be done by P2P scheme within the payment service or via a third-party partner — an online exchange site, a cryptocurrency exchange.

Purchase currency

Know Your Client

Max. amount for transaction

Fee

Advanced Cash

USD, EUR

$30,000+

No limits

At the system’s rate

Perfect Money

USD, EUR

$30,000+

No limits

At the partner’s rate

Payeer

USD, EUR

$30,000+

No limits

At the system’s rate

Web Money

USD, EUR

–

No limits

At the system’s rate

Advantages

negotiated exchange rate if it is P2P;

simple interface;

VPN can be used.

Disadvantages

fee over 10% if the exchange is via a partner;

few bitcoin sellers in case of exchange via P2P;

KYC is required.

Direct transactions

You can find people who want to sell bitcoins without intermediaries at cryptocurrency forums and websites. In this case people negotiate a deal at the forum and agree to meet offline. It is the riskiest approach to purchasing bitcoin with cash but at the same time it is the most profitable method, since without intermediaries there are no fees.

Advantages

no fees;

negotiated exchange rate;

no verification.

Disadvantages

the purchase takes a lot of time;

there might be no sellers in the required region;

a lot of scammers, you can be robbed.

ATMs

ATMs are located at trade centres and public transport stations. The installation of ATMs is monitored by the state, that is why this method is one of the safest.

Advantages

high safety level;

purchase takes 3–5 minutes;

no verification;

easy-to-use interface.

Disadvantages

fee — 10% and more;

you can withdraw only up to $1,000 without verification;

only 2,500 ATMs around the world.

In the USA there are several companies that install such terminals: Robocoin, Genesis1, Lamassu, BTC-O-MATIC, Coinplug, BitTeller, Diamond Circle. In order to find an ATM, enter the terminal name on GoogleMaps or type a request “buy bitcoins in ATM”.

Crypto ATMs

Gift cards

These are beautifully wrapped cards or digital cards, within which there is an address of and password to a bitcoin wallet with a small amount of coins. They are worth buying only from a manufacturer because an intermediary can use a card and then put it up for sale again.

Advantages

no verification;

it is a usual purchase of a gift card.

Disadvantages

it is suitable only for small amounts;

there is a risk of buying a card with an empty wallet.

In the USA gift cards with bitcoins are produced by Gyft, Fold App, Purse.io, Cryfter, eGifter, InstaGift, YesToBitcoins and Amazon. You can buy them in trade centres or at the Amazon website.

«Physical» bitcoins

These are souvenir plastic or metal coins, within which there is a hologram with a bitcoin wallet address and password. The first such coin was issued by Casascius Bitcoin Mint in 2011. At first, the nominal value was 1 BTC for brass coins and 25 BTC for talmi-gold coins. Later, the company also started to issue gilded “ingots” with the nominal value of 100, 200, 500 and 1,000 BTC.

“Physical” bitcoins

In 2013 the US government closed down this company because such activity falls under the definition of “illegal money transfers” and “unlicensed financial services”. However, three years later a Japanese company picked up the idea and began to issue “physical” bitcoins.

Nominal value

Issued in 2018

Material

Titan Bitcoin

1 BTC

Yes

Silver, gold

Casascius

1, 10, 25, 100, 1,000 BTC

No

Brass, aluminium, silver

Lealana coins

As desired, 1 BTC

Yes

Vermeil

Antana

As desired

Yes

Zink, pure gold

Satori Coin

0.001 BTC

Yes

Plastic

Denarium

0.001–1 BTC

Yes

Talmi gold, silver, gold

Cryptmint

As desired

No

Copper, 999 fine silver

Advantages

no verification;

it is a usual purchase of a gift coin.

Disadvantages

you can buy a coin with an empty wallet.

Internet banking

In 2017 the banks also started to sell cryptocurrency. In order to buy bitcoins using this method, you should first create a cryptocurrency wallet and then top it up via Internet banking. If a bank offers to buy cryptocurrency without wallet registration, it is investment in a cryptocurrency fund.

Advantages

a warranty from the bank;

an easy-to-use Internet banking interface.

Disadvantages

fee — 7% and more;

verification is required.

Telegram bots

These are accounts managed not by a person but by the software. They inform about events, send out the news, bring cryptocurrency buyers and sellers together. To use such a bot, you should connect to it, select a counterparty and make a deal like at a P2P site.

Advantages

negotiated exchange rate;

no fees;

simple interface;

no verification;

VPN can be used.

Disadvantages

a lot of scammers because there is no punishment for cheating a counterparty;

a lot of time is required in order to discuss all the details with the seller;

there might be no sellers in the required region.

The most popular Telegram bots are Bitcoin bot, Btc_change_bot, CryptoBitBot, BlokchainBot, CallCoin.

Important to remember

Bitcoin is worth buying only for an international money transfer or exchange into another cryptocurrency because it has lost its attraction as an investment. We advise you to pay attention to ICOs — blockchain startups at the stage of initial coin offering that deliver up to 13,000% profit. In 2017 bitcoin delivered 1,600% profit.

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assets projects to make it easier for you to use it. The website does
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any trading decisions.